Marital assets


#1

I think this would depend on where the money came from. If it was from the sale of a marital asset then, yes you are entitled to 1/2 of it. If it was something that your STBX did after your separation that had nothing to do with your marriage then you are not entitled to any of it. Just as he is not entitled to any of your income after your separation date, unless it is from the sale of a marital asset.
As shown:
"(1) “Marital property” means all real and personal property acquired by either spouse or both spouses during the course of the marriage and before the date of the separation of the parties, and presently owned, except property determined to be separate property or divisible property in accordance with subdivision (2) or (4) of this subsection. Marital property includes all vested and nonvested pension, retirement, and other deferred compensation rights, and vested and nonvested military pensions eligible under the federal Uniformed Services Former Spouses’ Protection Act. It is presumed that all property acquired after the date of marriage and before the date of separation is marital property except property which is separate property under subdivision (2) of this subsection. This presumption may be rebutted by the greater weight of the evidence.

 (2) "Separate property" means all real and personal property acquired by a spouse before marriage or acquired by a spouse by bequest, devise, descent, or gift during the course of the marriage. However, property acquired by gift from the other spouse during the course of the marriage shall be considered separate property only if such an intention is stated in the conveyance. Property acquired in exchange for separate property shall remain separate property regardless of whether the title is in the name of the husband or wife or both and shall not be considered to be marital property unless a contrary intention is expressly stated in the conveyance. The increase in value of separate property and the income derived from separate property shall be considered separate property. All professional licenses and business licenses which would terminate on transfer shall be considered separate property.

 (3) "Distributive award" means payments that are payable either in a lump sum

or over a period of time in fixed amounts, but shall not include alimony payments or other similar payments for support and maintenance which are treated as ordinary income to the recipient under the Internal Revenue Code.

  1. “Divisible property” means all real and personal property as set forth below:
    a. All appreciation and diminution in value of marital property and divisible property of the parties occurring after the date of separation and prior to the date of distribution, except that appreciation or diminution in value which is the result of postseparation actions or activities of a spouse shall not be treated as divisible property.
    b. All property, property rights, or any portion thereof received after the date of separation but before the date of distribution that was acquired as a result of the efforts of either spouse during the marriage and before the date of separation, including, but not limited to, commissions, bonuses, and contractual rights.
    c. Passive income from marital property received after the date of separation, including, but not limited to, interest and dividends.
    d. Increases and decreases in marital debt and financing charges and interest related to marital debt."

If the equitable distribution does not come out equally, you could end up having to sell the house regardless in order to comply with paying him 1/2 the marital assets. Please keep in mind when you think about asking for more that he could be entitled to do the same to you.


#2

This money came from an enlistment bonus he received for reenlisting into the military. I was told that because since there is no legal separation law in NC and because we are still married and because it went into a joint account which has my name on it, I am entitled to half of this money, because why else would he go and hide the money.


#3

I would also like to add that in our separation agreement he has given the house to me and everything inside. He only asked to keep his brand new car that we purchased before he decided he wanted to leave me and our three kids. He no longer wants his name on the house and if I take it off and he has given it up to me then how can I have to sell it.


#4

Hopefully an attorney will respond to this. If your STBX reenlisted into the military then to me that would have nothing to do with you and would be post separation action and you would not be entitled to half of that money. Maybe he wasn’t aware that the money was going to be put into a joint account. Most people, when they separate, get separate banking accounts. Money that he received after you separated from him unless it is directly related to actions during the marriage or from the sale of marital assets are not considered divisible. If you have a separation agreement which would list all assets and debts at time of separation which would be divisible, that bonus was not part of the marital assets. You have the house which will be refinanced to have his name taken off, you have everything in the house, will have primary custody and are or will be getting child support for three children. He’s entitled to 1/2 the equity in the marital home, 1/2 the furniture or amount the furniture is worth, 1/2 any savings and retirement plans you hold and 1/2 the money in the joint account at the time of separation. The only thing he took was his car and then he reenlisted to the military. You want to know if you can take 1/2 the money that is a bonus for something he did after you separated…tsk tsk…[V]
As I said, maybe an attorney will answer this…good luck


#5

First of all he was fully aware that the money was going into our joint checking account. If he is entitled to half of what was in the checking account then why shouldn’t I be entitled to the same thing. I am still entitled to some of his military retirement pay when we divorce. Second of all I have a signed piece of paper where he voluntarily gave up the house to me and everything in it. HE DID NOT WANT ANYTHING BUT HIS CAR!!! I did not demand to keep the house or anything. I know that the house is what they call real property and he is entitled to half, but he gave it up and all claims to this house. He made the decision to leave this marriage to be with another woman, He WANTS his name off the house because he wants nothing to do with it. I did find out that I can have his name taken off without having to refinance, I can if I want. I ONLY ASKED ABOUT THE MONEY BECAUSE OF THE FACT THAT IT WENT INTO OUR JOINT ACCOUNT WHICH I AM ENTITLED TO ANYTHING IN IT BECAUSE MY NAME IS ON IT


#6
quote:
[i]Originally posted by lookingforanswers[/i] [br]I ONLY ASKED ABOUT THE MONEY BECAUSE OF THE FACT THAT IT WENT INTO OUR JOINT ACCOUNT WHICH I AM ENTITLED TO ANYTHING IN IT BECAUSE MY NAME IS ON IT

No, you’re not “entitled to it”. Did you even read Stepmother’s post?


#7

Let me simplify…had it been placed into your joint account even one day before your separation date, then yes you would have been entitled to 1/2 of that. As it is now, it is a direct result from action he took AFTER you separated and is not related to ANYTHING that happened before you separated or the marriage and did not come from the sale of ANY marital assets. It was not in the separation agreement listing as an asset because it did not exist yet. It is his money, which is probably why he withdrew it and opened a new account. I don’t believe it can be part of the divorce settlement.
That would be the same as you getting a Christmas bonus, that is direct deposited into your checking account and your STBX expecting that 1/2 of that is his.
You have been separated for 9 months, you got everything except his car and probably his clothes, regardless of whether you demanded, asked for or even wanted it. He was entitled to 1/2 of what was in the joint checking account, 1/2 the equity in the house, 1/2 the furniture or value of the furniture, 1/2 retirement or savings that you hold AT THE TIME OF SEPARATION. If there was $50,000 in savings at the time of separation then you both are entitled to $25,000. If he puts in another $12,000 in savings, totaling the account to $62,000, you would still only be entitled to $25,000, regardless of how much is in the account now.
Yes, maybe he did know that you would find out about it. Maybe he is evil enough to want you to know that there is money he has that you can not touch. Maybe he is a lousy husband and even worse father for leaving you and your three children for another woman, but the money from him reenlisting after you separated, I believe, is entirely his.
As I said, hopefully an attorney will respond to this but I don’t believe that your lawyer will let you ask for this money in a divorce settlement.


#8

So you took ALL of the marital assets, leaving him with nothing except his car and clothes. And now, when he earns some money by putting his life in danger defending this country, you want to grab that too??

You ought to be ashamed of yourself.


#9

To NCspouse78, My husband has not set foot over into Iraq nor Afghanistan to defend nothing. He sits on a ship and works, yes he may go overseas but he never sets foot in a warzone. It was not me taking all of the assets he GAVE those to me, he wanted NOTHING. He waived his right to have his share in the house, he wants his name off of our house. I did not force him to leave all of these things behind HE GAVE IT UP, he wants no equity in the house or anything. Most of the furniture in the house belonged to me anyway before we got married. I am entitled to his military retirement pay when he enlisted in the military before I met him, that had nothing to do with me. Secondly I saw a case similar to what I am dealing with and the judge told the man who was separated or divorced from his wife that he could not just take the money out of the account and hide it from his wife she is entitled to 1/2. And I am not ashamed for trying to take care of my children. I understand the part about him receiving the money after the separation, even after speaking to an attorney, I could have still gotten the money because it was in a joint account and I am legally entitled to half of what was in there because my name is on the account and I could still get money out.If I am wrong then I am wrong and the attorney I talked to is wrong I needed a second opinion from another attorney! All I wanted was some legal advice from an attorney before I go any further. I am dealing with military procedures, In fact I put in just as much time as he has in the military. I may not go out to sea like him but I have been in this with him for over ten years. I have been home raising our children by myself when he leaves to go overseas 6 months at a time. I stuck by him with every trial and triumph. I am not trying to be greedy, I am just trying to see what my rights are.


#10

I also found out that he actually received the bonus early, it just takes awhile before you could receive it. something to do with military codes and procedures. There is a waiting period, it just did not go into the account until May.


#11
quote:
[i]Originally posted by lookingforanswers[/i] [br]My husband has not set foot over into Iraq nor Afghanistan to defend nothing. He sits on a ship and works, yes he may go overseas but he never sets foot in a warzone.

If the above ignorant and obnoxious comment is typical of your attitude towards him and your marriage, I can’t blame your husband one bit for dropping everything and getting the bloody hell away from you.

Once again, your greedy attempt to steal his re-enlistment pay while he is deployed and defending our country in a time of war is shameful. If his ship is bombed or torpedoed and he dies, I hope at least that he has named some beneficiary other than you in his will. Because with your attitude, you don’t deserve a cent of it.


#12

Just because he is in the military does not mean that he is defending our country there are other men out there losing there lives for our country, with what he is in the military he does not have to go over into a warzone, that is what I was trying to say. He did not leave because of any attitude toward the military or his career, I respect all military personnel and those that are defending this country. he left because he decided he wanted to cheat on me and go be with another woman. I helped this man study for his advancement tests, I supported this man when he wanted to become a recruiter, I supported this man when he did go out on his 6 months deployment. I stayed at home to take care of our children while he pursued his career. What’s ignorant is the fact that you think I did not respect our marriage, I kept our household together while this man slept with another woman and while he was on the ship. I did everything for this man including standing by him throughout his military career. I’ve been supportive of this man more than his own mother. I have been in this just as long as he has. Like I sais there are far more military soldiers losing their lives for this country. How dare you accuse me of trying to steal his reenlistment bonus. If his ship does get bombed and he dies my children deserve that money. That has nothing to do with this topic. I have nothing but the utmost respect for those military soldiers fighting and losing their lives for this country and I can understand what their spouses must be going through, my spouses JOB NOR HIS SHIP REQUIREs HIM TO GO INTO A WAR ZONE at ALL!!! so do not tell me I am being ignorant or obnoxious. That has nothing to do with a reenlistment bonus that was in the works before we separated. Because of the waiting period that is why It was not actually received until after we got married. This may makes over $4, 000/mo compared to the little bit of child support that I get. I was a homemaker because of him being in the military I stayed home to raise the children because he wanted me and not someone else raising our children. I am in school and trying to look for work to help take care of my children. I am stuck paying for a house that he wanted to get and a car that he went out and bought without consulting me. Nonetheless I am grateful for it all, but the child support alone goes to those two things. I will not sell and put my children out on the streets and they need to get around in a car. and I can’t do anything else because he messed up my credit. Now because of his infidelity, me and my children now have to suffer while he lives life like the rich and famous while me and the chidren scrape the bottom of the bucket.When we were married my children went without a lot of things because he always spent money on him and leave no money in the bank account sometimes. He cared more about his appearance than our kids appearance. My kids were only getting a new pair of shoes once a year, sometimes less than that, but he always got new shoes and clothes. No one deserves to live like that. I am going to school to make a better life for us. No one deserves to put over 10 years into a marriage just to have their husband cheat on them with another woman and then leave their children to be with her. That is ignorant of you to even think that I did not respect our marriage. He did not respect our marriage. Like I said all I wanted was another attorney to respond based on what I was told by one attorney already. This was not even brought up by me to begin with, but someone who went through this, I was trying to see if it was true or not. I will prefer to just wait on an attorney to respond.


#13

Well the only sure way for you to be able to keep the house come divorce time is for him to sign a quit claim deed. That is what I did with my ex. The situation was a little different, but as long as he signs over all rights to the house with a quit claim deed he cannot come back and change his mind. Keep in mind I am in NC, so it might be called something different in another state. Hope this helps.


#14

Thanks that does help, someone else told me about that. Is it a long process and do I have to refinance if I do not want to? Thanks


#15
quote:
[i]Originally posted by ncspouse78[/i] [br]
quote:
[i]Originally posted by lookingforanswers[/i] [br]My husband has not set foot over into Iraq nor Afghanistan to defend nothing. He sits on a ship and works, yes he may go overseas but he never sets foot in a warzone.

If the above ignorant and obnoxious comment is typical of your attitude towards him and your marriage, I can’t blame your husband one bit for dropping everything and getting the bloody hell away from you.

Once again, your greedy attempt to steal his re-enlistment pay while he is deployed and defending our country in a time of war is shameful. If his ship is bombed or torpedoed and he dies, I hope at least that he has named some beneficiary other than you in his will. Because with your attitude, you don’t deserve a cent of it.



#16

ncspouse 78, are you a lawyer? do you have any kind of legal education? or are you just here to be ignorant and obnoxious to woman who are here for legal advice? what gives you the right to be judge and jury to the women posting in this forum?? you need to leave your own personal issues out of your replies or just dont reply !!!

quote:
[i]Originally posted by Southernbred[/i] [br]
quote:
[i]Originally posted by ncspouse78[/i] [br]
quote:
[i]Originally posted by lookingforanswers[/i] [br]My husband has not set foot over into Iraq nor Afghanistan to defend nothing. He sits on a ship and works, yes he may go overseas but he never sets foot in a warzone.

If the above ignorant and obnoxious comment is typical of your attitude towards him and your marriage, I can’t blame your husband one bit for dropping everything and getting the bloody hell away from you.

Once again, your greedy attempt to steal his re-enlistment pay while he is deployed and defending our country in a time of war is shameful. If his ship is bombed or torpedoed and he dies, I hope at least that he has named some beneficiary other than you in his will. Because with your attitude, you don’t deserve a cent of it.




#17
quote:
[i]Originally posted by lookingforanswers[/i] [br]Thanks that does help, someone else told me about that. Is it a long process and do I have to refinance if I do not want to? Thanks

It was not a long process when I did it. I had an attorney though so I guess that made it easy. All it was, was a piece of paper he had to sign that the attorney drew up…really easy!


#18

Dear lookingforanswers:

Greetings. I cannot advise you if you are entitled to half, because I don’t know what the sum was for. Generally, funds received after the date of separation by either party are their separate assets. Key word - generally. Thank you.

Janet L. Fritts
Attorney with Rosen Law Firm

4101 Lake Boone Trail, Suite 500
Raleigh, North Carolina 27607
919.787.6668 main phone
919.256.1665 direct fax

301 McCullough Drive Suite 510
Charlotte, North Carolina 28262
704.644.2831 main voice
704.307.4595 main fax

1829 East Franklin Street, Bldg 600
Chapel Hill, NC 27514
919.321.0780 main phone
919.787.6668 main fax

ROSEN.COM

The response posted above is based upon the limited factual information made available and is not intended as a full and complete response to the question. The only reliable manner to obtain complete and adequate legal advice is to consult with an attorney, fully explain your situation, and allow the attorney sufficient opportunity to research the applicable law and facts required to render an accurate opinion. The basic information provided above is intended as a public service but a full discussion with an attorney should be undertaken before taking any action.


#19

Janet, my read on this is that the sum was paid to her STBX as a re-enlistment bonus. He rec’d the funds AFTER moving out and separating. SHE feels that she’s “entitled” to half of it simply because he cashed the check and had it clear in a bank account that still had her name on it (old joint account). As soon as the funds cleared he moved the money to his own account.

Basically, she thinks she gets half simply b/c he used their old joint account to cash the check with…I disagree.


#20

First of all NCSpouse78, My name is still on the account and the account is still active. Thank you. I think that you need to keep your comments to yourself if all you are going to do is try to degrade pople on this forum. I am very well capable of replying back to the attorney myself. This forum is for people to get LEGAL help from attorneys as well as opinions or emotional support from their peers, not from someone to write about the fact that they cannot spell words correctly or for you to use the words and tone that you do!!!